Triveni Engg has target of Rs 105.50: Tulsian

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Triveni Engg has target of Rs 105.50: Tulsian

Investment Advisor SP Tulsian is of the view that Triveni Engineering has target of Rs 105.50. This is the third largest sugar mill in Uttar Pradesh as well as having good presence in the engineering division; making turbines and gear.

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Investment Advisor SP Tulsian is of the view that Triveni Engineering has target of Rs 105.50.

Tulsian told CNBC-TV18, "My pick is Triveni Engineering, a sugar play at Rs 101.20 with a price target of Rs 105.50 for the day. I am bullish on the sugar sector. This is the third largest sugar mill in Uttar Pradesh as well as having good presence in the engineering division; making turbines and gear. We have seen the company's focus on the power sector and all the capital goods companies having re-rated or having run up quite a lot. But this company has its major call on the sugar, they even had a closing stock of about 37 lakh bags on April 1st 2009 on which they are carrying a hidden profit or the inventory again to the extent of Rs 150 crore. As I said, their engineering is consistently posting an annualized turn over close to Rs 600 crore with earnings before interest and tax of Rs 150 crore, which gives them a very good edge or cushion on a consistent basis. But sugar will be all adding in the current year also to the financial performance. So, my positives call on the stock."